Question 5 The following transactions occurred during May, the first month of operations for XYZ Company: Sold common stock to owners for $100,000 cash 2. Purchased $50,000 of equipment by making a $20,000 cash down payment and signing a note payable for the balance Made a $15,000 cash payment on the note payable from the purchase of equipment 4. Sold a piece of equipment for cash of $31,000 Calculate the balance in the cash account at the end of May. Question 6 On June 1, 2018, Happy Company received $91,200 cash from a customer as payment for services to be performed over the next fifteen months. Calculate the amount of unearned revenue that would appear in Happy Company's balance sheet at December 31, 2018